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We are getting near resistance, so we'll find out soon enough. I started a short in HABT on Friday it's right back to the 20 day, which has been a ceiling for it. I am also long in SPY.
I think there will be a lot of volatility in the short term, but it seems the markets are somewhat reassured that the Chinese will continue to intervene to prop up their markets. That being said, last Monday showed a huge loss at the opening bell, but the losses were pared very quickly. I don't think this really qualifies as a "Black Monday".
What I plan to do is put a bunch of limit orders at low prices with the hope to buy at a discount on the volatility. This is how I picked up more AAPL at 95/share last Monday.
We are getting near resistance, so we'll find out soon enough. I started a short in HABT on Friday it's right back to the 20 day, which has been a ceiling for it. I am also long in SPY.
Pretty good pair-trade hedge there. I don't know how far down some of the latest IPOs will go, they really blitzed the market before recent drop. I've been thinking about shorting TIF on Asian/Euro weakness, but I think your HABT short is safer.
A 20% decline would be a black Monday. A possible 1K drop for the Dow- quite possible with all the computer programs that get triggered to sell & the coast is not clear yet, China was really pumped up so more downside possible.
I would not short TIF though- the time to short was when it was in the 100's.
get your crystal balls out folks!
but seriously (sorta), what's the likelihood of another big (>500 points) drop in the DOW on Monday 8/31?
my guess is that it's not very likely.
At some point, 100%. Monday, 8/31? Not very likely.
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